Im hoping you can help me. My husband and I need to go bankrupt. We entered in to an IVA 2 yrs ago, its now failed which was our choice. We stopped making payments a year ago as we felt we were mis sold the IVA. National debt helpline informed us that as we rent a housing property we should never have been sold the IVA and should have been told by the company to file for bankruptcy. To be honest we were too scared to go bankrupt and the advice we were given was to go ahead with our IVA but that advice was from the company we took our IVA through, little did we know that they make plenty of money selling us the IVA. We have lived with no credit now for 2 yrs so we really are learning our lesson and now the debt companies are chasing us again for our old debts. We need to go bankrupt asap. One big problem! Were told we need £495 each to file for bankruptcy. We have 2 children I dont work and the money my husband earns covers our rent bills and living costs, we could never save that kind of money. How can we ever go bankrupt if we dont have £1000 to do so? We really are stuck and unsure what to do. Maybe others add it on to their debts but we dont have that option. Is there any way we can get help with this fee? Other than phoning a loan shark that comes to my door to collect payments I really dont know what to do. Sorry for my long message, hoping you can help, S
unfortunately it's virtually impossible to declare bankruptcy yourself unless you have the required funds.
Some utility companies have a fund from which those in your position are occasionally given assistance. Which companies these are I'm afraid I don't know.
We went bankrupt in December and also had trouble getting the money for the fees. I applied to British Gas and Severn Trent Water trusts to pay these fees. Provided you have utilities with these companies you can apply. The CAB helped me with this. Unfortunately we were not sucessful with either company and was told that British Gas have sooo many applications and they can only approve 2 a month. Sorry to tell you this, but it was a complete waste of time. As my husband and I receive benefits we ended up getting a loan from Social Security (from the social fund) which is paid back from our benefits before we even receive them. If you receive benefits it may be worth considering this option as it is only taken out over a 12 month period.
Im hoping you can help me.
Posted - 07 January 2009 : 10:54:01
